06 LC 18
4716
House
Bill 1120
By:
Representatives Scott of the
2nd,
Knight of the
126th,
Graves of the
12th,
Fludd of the
66th,
and Neal of the
1st
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-8-49 of the Official Code of Georgia Annotated, relating
to
dealerś
sales and use tax returns, so as to change certain provisions regarding
estimated tax liability; to repeal conflicting laws; and for other
purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 48-8-49 of the Official Code of Georgia Annotated, relating to
dealerś
sales and use tax returns, is amended by striking subsection (b) and inserting
in its place a new subsection (b) to read as follows:
"(b)(1)
As used in this subsection, the term 'estimated tax liability' means a
dealeŕs
tax liability, adjusted to account for any subsequent change in the state sales
and use tax rate, based on the
dealeŕs
average monthly payments for the last fiscal year.
(2)
If the
estimated tax liability of a dealer for any taxable period exceeds $2,500.00,
the
A
dealer shall
not be
required to file a return and remit to the
commissioner
not less
than 50 percent of the
any
estimated tax liability
for the
taxable period on or before the twentieth day of the period. The amount of the
payment of the estimated tax liability shall be credited against the amount to
be due on the return required under subsection (a) of this Code section. This
subsection shall not apply to any dealer unless during the previous fiscal year
the
dealeŕs
monthly payments exceeded $2,500.00 per month for three consecutive months or
more nor shall this subsection apply to any dealer whose primary business is the
sale of motor fuels who is remitting prepaid state tax under paragraph (2) of
subsection (b) of Code Section 48-9-14. No local sales taxes shall be included
in determining any estimated tax
liability."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.